Bulgaria, Macedona, Croatia Set Up Joint Securities Trade Company

The stock exchanges of Bulgaria, Macedonia and Croatia have created a joint company to integrate trade in securities in the three countries.

Their joint project has received financial support by the European Bank for Reconstruction and Development. The institution will be based in Macedonia's capital, Skopje, according to a statement by the Bulgarian Stock Exchange quoted by the website Investor.bg.

Ivana Gazic, who chairs the board of the Zagred Stock Exchange, described the move as a plausible answer to their efforts "to improve visibility and efficiency" of the three markets.

Cooperation could also lead "other regional exchanges to joining in the future," according to her Macedonian counterpart, Ivan Shteriev.

Bulgarian Stock Exchange Director Ivan Takev, for his part, views the joint initiative as a way to attract investors on a regional basis.